Billionaire Soros Was ‘Long’ on Pound Before Vote on Brexit

June 27, 2016 6:44 AM

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George Soros, the billionaire who forged his reputation on a 1992 bet that the U.K. would devalue the pound, was “long” the currency before Britain’s historic vote to leave the European Union on Friday.

Soros didn’t “speculate against sterling while he was arguing for Britain to remain in the European Union,” a spokesman said in an e-mailed statement Monday. “Because of his generally bearish outlook on world markets,” Soros did profit from other investments, according to the statement.